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Dec 31, 2020
Open Lending Q4 2020 Earnings Report
Open Lending reported a strong Q4 2020 with significant increases in certified loans, revenue, and Adjusted EBITDA compared to Q4 2019.
Key Takeaways
Open Lending Corporation reported a 52% increase in revenue and a 37% increase in Adjusted EBITDA compared to the fourth quarter of 2019. The company facilitated 26,822 certified loans during the quarter, a 19% increase year-over-year. New larger credit union partnerships were announced, and progress was made on OEM relationship expansion.
Facilitated 26,822 certified loans, a 19% increase compared to Q4 2019.
Total revenue reached $39.6 million, a 52% increase compared to Q4 2019.
Gross profit was $36.7 million, a 54.1% increase compared to Q4 2019.
GAAP net income was $15.2 million, compared to $17.4 million in Q4 2019.
Revenue by Segment
Forward Guidance
Based on the fourth quarter results and trends into 2021, the Company is reaffirming its previously issued guidance of the following:
Positive Outlook
- Total Certified Loans 161,000 - 206,000
- Total Revenue $184 - 234 million
- Adjusted EBITDA $125 - 168 million
- Adjusted Operating Cash Flow $81 - 111 million
- The guidance provided above includes forward-looking statements within the meaning of U.S. securities laws.
Challenges Ahead
- While the financial guidance takes into account the anticipated impact of the global COVID-19 pandemic, the impact of the pandemic is unprecedented
- The future effect of the pandemic on the global economy and our financial results remains highly uncertain
- Our actual results may differ materially.
- See “Forward-Looking Statements” below.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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